Challenge - explained

Samyang Packaging is the largest PET bottle manufacturer in Korea and emerged as the only company in Korea capable of producing, distributing and recycling PET bottles considering environmental preservation. The company was in the strategy of penetrating Vietnam Beverage PET Packaging market but they had no idea on the current competitive landscape of this market in Vietnam. They are in-need of market insight and key trends to denfine the potential for them in Vietnam Market. Choosing FiinResearch to help them conduct the market research for giving expansion dicisions.

Solution:

FiinResearch provided Samyang Packaging with in-depth analysis on VN PET Packaging, the company basically had an overall understanding of this market in Vietnam and was able to evaluate market potential. We also provided deep-dive analysis on exact categories and respective pack sizes as well as particular demand for PET packaging from potentially strategic customers. Leveraging our experience in this industry, we conducted various discussions and interviews with industry players, packaging end-customers at executive levels to grasp local insights and the practical ways of doing packaging business in Vietnam.

Results:

Samyang successfully expanded their business in Vietnam by establishing Samyang Engineering Plastics Limited Company in Vietnam in 2018. The company focuses on engineering platics and has gone into operation this April 2020.